New units deepen Inyx' 3rd-qtr 2006 loss 98%

US niche drug-delivery specialist Inyx says that, for third-quarter 2006, its revenues soared 39.5% on the like, year-ago period to $18.0 million. However, the company's net loss deepened 97.9% to $9.7 million, or $0.19 per share, which includes approximately $2.0 million in non-cash depreciation and amortization charges, as well as $2.3 million in one-time cash expenses for pending acquisitions.

According to the New York-based firm, its increase in year-over-year turnover and solid gross margin are the result of the larger scope of its businesses this year with the addition of Ashton Pharmaceuticals in the UK and the company's new Exaeris marketing subsidiary. Inyx noted, however, that the increase in net losses incurred this year so far is largely due to higher operating expenses from its two new operations, which were unable to generate sufficient revenue due to regulatory hurdles to technology transfers, and were unable to fully absorb their overheads.